On February 25 local time, Chile experienced its most severe nationwide blackout in 15 years. The power outage left millions without electricity and may also impact the country’s copper mining operations and global copper markets.
On February 25, a failure in the 500-kilovolt transmission system in northern Chile disrupted power supply from Arica in the north to the Los Lagos region in the south. The large-scale blackout affected over 98% of Chile’s population, leaving more than 19 million people without electricity. Due to the extensive outage, the Chilean government declared a “state of catastrophe emergency” and imposed a curfew. Chile’s National Electric System has initiated a service restoration plan to resume power supply as soon as possible.
Chile’s state-owned copper company Codelco stated that all its operations were impacted by the blackout. The company is taking measures to ensure the safety of workers and facilities, adding that critical systems and equipment in some areas could operate autonomously via backup power.
Anglo American reported that its Chilean operations lost power, though some services continued with backup generators. Chilean mining firm Antofagasta PLC noted it had managed to sustain operations using alternative energy sources.
Given that Chile accounts for approximately a quarter of global copper supply, prolonged outages could disrupt international copper markets. Chilean Interior Minister Carolina Tohá indicated that power might be restored within hours but warned that resuming electricity for mining companies could take longer.
In related news, U.S. President Donald Trump signed an executive order directing the Commerce Department to review potential tariffs on copper. This move, part of a series of measures to impose tariffs on specific industries and reshape global supply chains, drove U.S. copper futures prices higher.
Post time: Feb-28-2025